David Hamilton has been promoted to executive vice president of acquisitions and inventory management at EMC Mortgage Corp., Irving, Texas, and Jo-Karen Whitlock was been promoted to senior vice president of conduit.Mr. Hamilton was promoted to EVP after 14 years at EMC, most recently as senior vice president. He has overseen various departments, including due diligence, asset evaluation, and trading support, the company said. Before joining EMC, Mr. Hamilton served on the retail originations side of the mortgage industry with such companies as The Associates, Manufacturers Hanover, Anchor Mortgage Services, and Equitable Banc Mortgage Corp. Ms. Whitlock has more than 25 years of industry experience, the last three of them with EMC. She was previously regional underwriting manager for Wells Fargo Home Mortgage, vice president of GMAC/RFC, and underwriting manager and risk manager at Fannie Mae, among other positions.
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The founder who was recently ousted as CEO said he wants to return the company to its positive trajectory, after last week's shakeup battered its stock price.
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The lender won its motion for summary judgment just about two months after the court denied a plaintiff's attempt to certify a class of over 50,000 consumers.
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While delinquencies eased overall quarter to quarter, they trended upward on a yearly basis across all loan types, the Mortgage Bankers Association said.
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The seller surplus was a result of sluggish demand as opposed to increased supply. The 30-year fixed-rate mortgage rose every week in July to 6.66%.
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More than a third of listings are below their original ask, with entry-level homes seeing frequent cuts in several metros, Movoto data shows.
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For the first time in six weeks, the 30-year fixed rate mortgage dropped, with observers expecting a steady but challenging housing market for the rest of 2026.
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